ARTICLES ABOUT TRAINEES BY DATE - PAGE 5

MUMBAI: After holding back Diwali bonus, India's largest private airline Jet Airways has now proposed to slash salaries of its top key executives by 25% in a bid to control costs. The decision has been taken by chairman Naresh Goyal at an internal meeting with employees at Hotel Renaissance, Powai, on Sunday night. Sources familiar with the situation divulged that pilots and engineers earning more than Rs 10 lakh a month would have to take a pay cut of 20% whereas chief executives and operational heads would take a 25% pay cut. The company has also decided not to pay any allowance to trainee pilots, though pilots who come below the Rs 75,000 a month salary bracket have been kept out from the exercise.

MUMBAI: Vijay Mallya-owned Kingfisher Airlines has benched 50 trainee co-pilots asking them to stay at home till further orders. The company has offered them a monthly stipend of Rs 20,000 against their take-home salary of up to Rs 1 lakh. Kingfisher conveyed the decision after it announced an operational tie-up with Jet Airways to battle rising costs on Tuesday. Both airlines had decided to rationalise routes and cut capacities in both domestic and international routes.

NEW DELHI: It isn't just cabin pressure that has made the aviation job sector hit an air-pocket these days. It's also cockpit crowding. While sacked cabin crew may be hogging the airwaves, the aviation downturn has hit another section equally hard. Scores of cadet pilots have also been shown the door as airlines renege on their placement promises. With passenger loads falling, expansion is no longer a priority and the demand for cockpit crew is taking a knocking. A whole bunch of just-trained pilots have their licence ready and a loan to pay back but no job. Around 500 cadet pilots, enrolled by various airlines, will not be absorbed anymore.

MUMBAI: The crisis in the Indian aviation sector is getting worse. Vijay Mallya-owned Kingfisher Airlines has benched 50 trainee co-pilots, asking them to stay at home till further orders. The company has offered them a monthly stipend of Rs 20,000 against their take home salary of up to Rs 1 lakh. Kingfisher has conveyed the decision after it announced an operational tie-up with Jet Airways to battle rising costs on Tuesday. Both airlines had decided to rationalise routes and cut capacities in both domestic and international routes.

Domestic carriers flying abroad World's Best Airport World's Top airports India Aviation 2008 MUMBAI: After Jet Airways, it's now the turn of Kingfisher Airlines employees to face the heat. The airline has lined up a host of cost-cutting measures, a majority of which involves drastic salary cuts. The most affected will be the new lot of trainee co-pilots who not only have to go back to their stipend pay, but also be prepared for an uncertain future.

MUMBAI: Vijay Mallya-promoted Kingfisher Airlines today said it has slashed salaries of its trainee pilots 'significantly'. "Remunerations of these (trainee) pilots have been slashed significantly as a part of our cost-cutting initiatives," a senior Kingfisher Airlines official told reporters without giving the quantum of the cut. Line pilots and commanders of flights, have, however, been exempted from this move, he said. "The airline had to resort to this move as some of its aircraft have been grounded," the official added.

MUMBAI: Vijay Mallya-promoted Kingfisher Airlines today said it has slashed salaries of its trainee pilots 'significantly'. "Remunerations of these (trainee) pilots have been slashed significantly as a part of our cost-cutting initiatives," a senior Kingfisher Airlines official told PTI without giving the quantum of the cut. Line pilots and commanders of flights, have, however, been exempted from this move, he said. "The airline had to resort to this move as some of its aircraft have been grounded," the official added.

Tips for financial survival in credit crisis KOLKATA: Is a cut in variable pay in the offing for experienced staff at India's biggest IT company Tata Consultancy Services (TCS)? There is a fear that TCS? which last resorted to such a step in the third quarter of 2007-08?may not pay employees upwards of trainees a portion of their variable pay for FY09 Q2 as part of an austerity measure forced by the global financial meltdown.

NEW DELHI: Shipping firms that do not have at least 15% of their crew as trainees will be liable for a penalty up to Rs 20 lakh per vessel. They may even lose tax benefits from next year. The government has made it mandatory for shipping companies availing tonnage tax benefits to employ trainees passing out from Indian maritime academies. Shipping firms pay only 5% income tax under tonnage tax regime (TTR) instead of the usual 30% corporate tax. To avail TTR, shipping firms need to comply with two conditions: invest 20% of their book profits towards a fund for fleet expansion and have 15% of their employees on board as trainees.

NEW DELHI: Once upon a time, not so long ago, training to be a pilot was the ticket to an instant high-flying career. Not any more. As airlines cut back on expansion plans and battle lower occupancy and rising costs, the roughly 1,500 trainee pilots awaiting jobs opportunities in India have virtually been grounded. Pilots were in great demand just a year ago and a trained one could easily fetch a starting monthly package of Rs 2.5 lakh onwards with some additional perks.